Tata Sons chairman N Chandrasekaran on Wednesday said he has decided to step down and will not seek reappointment for another term. Chandrasekaran is also the chairman of several Tata Group companies, including Tata Steel, Tata Motors, TCS, and Indian Hotels. In a statement, Chandrasekaran said that he has asked the board to decide on the succession soon to ensure a proper transition. His current term runs until February 2027. The development holds significance as it comes ahead of the company’s annual general meeting, scheduled for August 18.
Completes 40 years at Tata Group
Chandrasekaran said he has completed 40 years of professional life at the Tata Group and is grateful for the immensely satisfying opportunity to contribute to this venerable institution.
“Leading Tata Sons over the past decade has been a great honour and a profound responsibility,” he said in a statement.
“It has been 6 months since that Board meeting, and no resolution has been reached till date. Tata Sons is a very large institution and there are many strategic projects that are under critical stages of execution. It is not only necessary to have a leader in place to lead the Group beyond Feb 2027, but also clarity on leadership is important for employees, investors, partners and other stakeholders,” the statement reads.
This is a developing story.
